On July 1, 2020, Alfa Limited borrowed $600,000 from a bank for a 6-year period at a 12% interest rate. The firm must make a fixed monthly loan payment of $11,730. Which of the followings is correct when recording monthly loan payment for account Bank Loan Payable on July 31, 2020? Debit Bank Loan Payable $4,530 Debit Bank Loan Payable $5,730 Debit Bank Loan Payable $6,000 Debit Bank Loan Payable $11,730 The activity for a specific inventory item for the month of March was as follows: # of Per Unit Total Units October 1 inventory Cost Cost 30 $28 Purchases: $840 October 5 100 30 October 13 3,000 60 32 1,920 October 15 90 36 3,240 Goods Available for Sale 280 $9,000 Sales: October 8 110 October 22 120 230 Using first-in, first-out (FIFO) under a perpetual inventory system, what is the balance of Cost of Goods Sold for month ended October 31? $6.440 $7,440 $7,200 O $6,900 Grey Company purchased a new van for floral deliveries on April 1, 2019. The van cost $48,000 with an estimated life of 6 years and $6,000 residual value at the end of its useful life. The double-declining-balance method of depreciation will be used and December 31 is fiscal year end. What is the balance of the Accumulated Depreciation account at December 31 2019? $10,500 $12,000 $16,000 $14,000